In 10 years, the world's 1 billion elderly

In 10 years, the world's 1 billion elderly



Demographers say that by 2050, the older generation will be greater than the population under 15 years of age.

A new study says the number of elderly people around the world is growing faster than any other age group, and could reach 1 billion within the next 10 years.

The study, titled "Aging in the 21st Century: Joy and Challenge", was released this week by the United Nations Fund for Population. The study says that in 2000, for the first time in history, there were more people over age 60 than children under 5 years.
Demographers say that by 2050, the older generation will be greater than the population under 15 years of age. In just 10 years, the number of older persons will exceed 1 billion, an increase of nearly 200 million people during the decade.

UN report notes that, while the trend towards increasing the life of society is a reason to rejoice, it also presents major challenges for health care and pension systems.
Analysts say that older populations may pose enormous challenges for developing countries, where the pressures of poverty has long been plaguing state budgets.